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Dec 25, 2012
12/12
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my name is steve. my family's lived in this neighborhood for years. recently, things got so tight we had to go to our local food bank for help. i lost a lot of sleep worrying about what the neighbors might think. that is, until i saw them there, too. how'd i do, steve? a little stiff. you could have done a little better. what? come on. you know, i have an academy award. yeah, but not for playing me. announcer: play a role in ending hunger. visit feedingamerica.org/hunger and fd your local food bank. gerri: it is called the shadowdo banking system, hedge fund, money market fund, any lender typically not aw st bank and bld by many for the global financial crisis. they're bigger than ever at $67 trillion in termshe of asses according to an report from the financial stabilityrd board. i asked editor-in-chief ofnanc american banker about the risks it poses to the total financial system. >> essays on the financial to system, these were people who were in the business of lendinge money, of investing that are not regulated like a lot of banks so nobody really
my name is steve. my family's lived in this neighborhood for years. recently, things got so tight we had to go to our local food bank for help. i lost a lot of sleep worrying about what the neighbors might think. that is, until i saw them there, too. how'd i do, steve? a little stiff. you could have done a little better. what? come on. you know, i have an academy award. yeah, but not for playing me. announcer: play a role in ending hunger. visit feedingamerica.org/hunger and fd your local food...
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Dec 30, 2012
12/12
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steve, you wanted to get in there? >> yeah, let me be the bull here for a minute. we talk auld time about the energy sector and it's not just the energy sector, we've had a mini renaissance in manufacturing in this country, in transportation because of the fact the energy prices are falling and makes the american much more competitive at the margin. i think 2013 is going to see continued declines in energy prices. that's like a tax cut for the american consumer, paul. >> but, paul, the thing we haven't mentioned here is unemployment. we've had high unemployment for four years which means a lot of people out of jobs. we would need a tremendously bullish economy and i'm saying like 4%, to produce enough jobs, it would take a decade to get back to where we were before this recession. >> paul: right, sure, no question about it. >> we just need to do whatever we can to allow economic growth in this country. but declining energy prices are not necessarily good for energy production. because at some point, energy producers are going to say the price is too low and to miti
steve, you wanted to get in there? >> yeah, let me be the bull here for a minute. we talk auld time about the energy sector and it's not just the energy sector, we've had a mini renaissance in manufacturing in this country, in transportation because of the fact the energy prices are falling and makes the american much more competitive at the margin. i think 2013 is going to see continued declines in energy prices. that's like a tax cut for the american consumer, paul. >> but, paul,...
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Dec 30, 2012
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we are back with dan and mary and steve moore. mary, explain this seeming contridiction between slow growth and buoyant markets. >> first of all with respect to the markets, i would say that if you look at a chart of for example, if you go back to say april of 2011 until october of 2012, you arke basically flat. there has been a lot of churning up and down. the s&p 500 index was a lot higher. in the last few months we have seen a little pick up there. certainly from the end of -- from the beginning of this year you saw a run in the market. you don't have a great return if you are a long-term investor. >> okay. but if growth is still slow, and some people are still investing in p cs. the corporate balance sheet earnings have been pretty good. they have cleaned out a lot of the debt from the crisis. could we be poised here for faster growth going forward? >> i think one of the things that explains why the corporate sector is doing well is they have access to money at 0 interest rates. that's not true for the broader population and n
we are back with dan and mary and steve moore. mary, explain this seeming contridiction between slow growth and buoyant markets. >> first of all with respect to the markets, i would say that if you look at a chart of for example, if you go back to say april of 2011 until october of 2012, you arke basically flat. there has been a lot of churning up and down. the s&p 500 index was a lot higher. in the last few months we have seen a little pick up there. certainly from the end of -- from...
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Dec 26, 2012
12/12
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and number four, steve wynn. he bought this luxurious condo. also in new york city. $70 million. the apartment which was once the hotel's ballroom has 14 rooms and over 10,000 square feet of space. which is massive for new york. number three, we are still in new york were a russian billionaire bought a penthouse on central park west for $89. he reportedly bought it for his college age daughter to use when she's in town. i hope she's countable there. number two, this lavish new york city duplex penthouse with jetliner views of central park. the 11,000 square-foot penthouse was originally listed for $110 million. but the buyer is anonymous. i can tell you it is. the most expensive home by 2012, look at this. it is in montana. the billionaire owner of the st. louis rams bought this range. the final sale price not yet revealed. but if he paid nearly 1.5 million asking price, it would have been by far the biggest residential real estate sale in the u.s. this year. i could use a ranch house. that would be nice. coming up, forget the fiscal cliff. a slew of new taxes coming your way in
and number four, steve wynn. he bought this luxurious condo. also in new york city. $70 million. the apartment which was once the hotel's ballroom has 14 rooms and over 10,000 square feet of space. which is massive for new york. number three, we are still in new york were a russian billionaire bought a penthouse on central park west for $89. he reportedly bought it for his college age daughter to use when she's in town. i hope she's countable there. number two, this lavish new york city duplex...
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Dec 24, 2012
12/12
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thank you, steve. gregg? gregg: as steve mentioned jon hammar's mother made a tireless effort in recent weeks to draw attention to the case. here are more of her remarks from yesterday. >> it was like my first night that slept all night loaning without getting up and it was just, the thought of not wondering what is going on with him. can anyone hurt him tonight you know, those kind of thoughts. he is eating. he is able to have a meal. it is, i honestly can't totally process it i think until he's here. gregg: republican congresswoman ileana ros-lehtinen of florida worked with the hammars to win jon's release. she is chairman of the house foreign affairs committee. always great talking to you. thanks so much. >> thank you. gregg: jon hammar's parents says the state department was really not lifting a finger to help. in fact they were very discouraging about it. then the white house when asked just a few days ago seemed utterly owe live just didn't know anything about it and clearly wasn't do anything. you woul
thank you, steve. gregg? gregg: as steve mentioned jon hammar's mother made a tireless effort in recent weeks to draw attention to the case. here are more of her remarks from yesterday. >> it was like my first night that slept all night loaning without getting up and it was just, the thought of not wondering what is going on with him. can anyone hurt him tonight you know, those kind of thoughts. he is eating. he is able to have a meal. it is, i honestly can't totally process it i think...
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Dec 31, 2012
12/12
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steve, thanks very much indeed. give us a report on what the rich are actually going to do come the new year. thanks, steve. >> thanks, stuart. happy new year. stuart: you have a smile on your face. david: i'm also thinking zab the guy who is making a million bucks a year from his relatively small business. i know several people like that. they're driving in a 5-year-old, 6-year-old cadillac and they put all of the money they make into their kids' education and their business. that's it. there are a lot of people like that. what are they going to do? they can't cut back on it. they can't send their kids to a cheaper school. they are already enrolled. maybe they will have to do something like that. those are the people that i'm really suffering for. stuart: i think we should make it clear that we're not just referring to taxes going up on upper income people, you also have to consider higher capital gains taxes, higher dividend, interest taxes, medicare taxes. david: i can't imagine it won't have a depressing effect
steve, thanks very much indeed. give us a report on what the rich are actually going to do come the new year. thanks, steve. >> thanks, stuart. happy new year. stuart: you have a smile on your face. david: i'm also thinking zab the guy who is making a million bucks a year from his relatively small business. i know several people like that. they're driving in a 5-year-old, 6-year-old cadillac and they put all of the money they make into their kids' education and their business. that's it....
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Dec 31, 2012
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steve, great to see you. the deal being bandied about right now to raise taxes on higher earners actually doesn't appear to do anything to fix the problem, that is, all the new revenue from higher taxes would be used for more spending. as we understand about 850 billion in new revenue would be spent on eliminating the fiscal cliff automatic spending cuts and extending unemployment checks. is it true not a dial would go to cutting the real problem, the debt and deficit? >> yeah. in one scenario that is absolutely the case. we shouldn't actually be surprised. it has been clear at least for a short amount of time that this hasn't been the goal of these discussions. i mean for all the talk about deficit reduction and despite the fact that this began as an effort to rein in spending after the 2010 elections, it is clear democrats in the house and senate, i would argue the president, haven't been serious about long-term spending cuts. gregg: maybe they're not serious, you know, they see a political benefit to liter
steve, great to see you. the deal being bandied about right now to raise taxes on higher earners actually doesn't appear to do anything to fix the problem, that is, all the new revenue from higher taxes would be used for more spending. as we understand about 850 billion in new revenue would be spent on eliminating the fiscal cliff automatic spending cuts and extending unemployment checks. is it true not a dial would go to cutting the real problem, the debt and deficit? >> yeah. in one...
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Dec 28, 2012
12/12
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caller: good morning, steve. i listened to it the myopic dogma in this segment over and over. the only people i can blame on this are the american people. the people who sit here and listen to these guys that are extremists and and they vote him into office -- them into office. i hear people say let's get rid of epa. if you look at how much epa takes out of our budget, that's like worrying about nothing gary people need to turn off the tv and start studying more. crack some books. look at economic spirit trickle- down economics does not work. name a country where it has worked? maybe estonia. but it's not working incr greece. i heard a great saying that says when time gets tough, everyone is a keynesian. turn off the tv. not c-span of course. but turn off the news channels that are just cramming this stuff, and get involved in this before you formulate an opinion. i think we would be voted into office smarter, better people that are not tea party extremists. how about if on the democratic side grover norquist had said never cut any spending? i'm going to sign a bill that says
caller: good morning, steve. i listened to it the myopic dogma in this segment over and over. the only people i can blame on this are the american people. the people who sit here and listen to these guys that are extremists and and they vote him into office -- them into office. i hear people say let's get rid of epa. if you look at how much epa takes out of our budget, that's like worrying about nothing gary people need to turn off the tv and start studying more. crack some books. look at...
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Dec 30, 2012
12/12
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i would just like to talk to stan a little bit about the fact that steve said something about the one republican senator that likes to filibuster and blah blah blah. what about harry reid pocket vetoing everything that comes from the house if he doesn't like it? how is that -- that's not even written into the constitution but the filibuster is but harry reid can decide i'm not going to take this up but they can't filibuster? host: we'll get the response. guest: no that's not in the constitution. it is a prerogative that the senate has taken on its own as it created its own rules. but it is not constitutional. and just to correct you with one other thing. it's not a pocket veto but that's something only the president can do. but you're right in the sense that the majority is the one that determines what the agenda is going to be, what legislation comes to the house. it's not different in the senate than it is in the house of representatives. where john boehner the house rules committee decides what will come to the floor and when. it is -- you've just saw it as a matter of fact in the
i would just like to talk to stan a little bit about the fact that steve said something about the one republican senator that likes to filibuster and blah blah blah. what about harry reid pocket vetoing everything that comes from the house if he doesn't like it? how is that -- that's not even written into the constitution but the filibuster is but harry reid can decide i'm not going to take this up but they can't filibuster? host: we'll get the response. guest: no that's not in the...
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Jan 1, 2013
01/13
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rick: you and i talk for years, steve about small businesses and the impact these bills have on folks who employ, the most americans in this country, small business owners. based on your reading of this bill, what's the impact on them? >> it is lousy. i'm glad you brought this point up. we've been having the debate whose taxes should be going up and so on. let's not forget the overall impact of this bill is very negative for the economy. means higher capital-gains taxes higher dividend taxes. higher taxes on small businesses the some of my liberal friends would say, that is only people that make over $450,000. rick, as you know, two out of three of those people in the high income category are small business owners. the overall impact is anti-business and anti-growth. the by the way only way we get the deficit down is get the economy growing again. i think congress and the white house lost sight of that. rick: for conservatives in the house of representatives sitting reading this bill right now and trying to figure out what they're going to do, as a conservative economist what would yo
rick: you and i talk for years, steve about small businesses and the impact these bills have on folks who employ, the most americans in this country, small business owners. based on your reading of this bill, what's the impact on them? >> it is lousy. i'm glad you brought this point up. we've been having the debate whose taxes should be going up and so on. let's not forget the overall impact of this bill is very negative for the economy. means higher capital-gains taxes higher dividend...
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Dec 26, 2012
12/12
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. >> reporter: steve vin dinin in washington. thank you. >> reporter: new information on a horrified christmas eve tragedy as a note left by this ex-con suggests that he planned to kill first responders and possibly some of his own neighbors when he set this massive inferno, it happened on monday, after that before shooting two firefighters who arrived at the scene to help. trace gallagher live from our west coast newsroom with more on this disturbing story. trace. >> reporter: police say that note from 62-year-old william spengler was three pages, five written, and it did not offer a motive as to why he pulled off the ambush, but it did layout in very evil and lee clear terms exactly what his intent was. it reads in part quoting here, i still have to get ready to see how much of the neighborhood i can burn down and do what i like doing best, killing people. police say he was equipped to go to worst with a multi-million tear re-style rifle, a revolver, a shotgun. they found a large number of rounds inside the house. police say he
. >> reporter: steve vin dinin in washington. thank you. >> reporter: new information on a horrified christmas eve tragedy as a note left by this ex-con suggests that he planned to kill first responders and possibly some of his own neighbors when he set this massive inferno, it happened on monday, after that before shooting two firefighters who arrived at the scene to help. trace gallagher live from our west coast newsroom with more on this disturbing story. trace. >>...
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Dec 27, 2012
12/12
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. >> tim geithner told steve liesman. >> i have it ready. >> that he is we should show it multiple times. >> tt is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest -- remember, it's only 2%. and all of those americans get a tax cut on the framework of the first $250,000 of their income. >> yeah, yeah, you still get the 250, andrew. they love that. what does oh, absolutely mean, bob? >> maybe it means his favorite movie was "rebel without a cause." >> go the. >> i guess it's letting the other side know you're willing to go eyeball to eyeball with something that is terrible. >> i see both sides pretending to say, yeah, we're doing all we can, but it's almost just like this -- like boehner just said, hey, you guys, you happen, in the democratic-controlled senate, you put a bill together. i'd love to consider it. he can't get his guys to consider a democratic bill. >> as long as they feel like they can blame the other guy, they feel they have cover. this is
. >> tim geithner told steve liesman. >> i have it ready. >> that he is we should show it multiple times. >> tt is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest -- remember, it's only 2%. and all of those americans get a tax cut on the framework of the first $250,000 of their income. >> yeah, yeah, you still get the 250,...
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Dec 29, 2012
12/12
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one of them is now retiring, steve latourette, the moderate tuesday cloud is retiring in large part because it is discussed at the tea party. this is a guy who would have thought of ways was the forerunner, but who mellowed over time. another way of looking is even the class of 1994 was nowhere as near conservative. >> dear liberals i compare sin. you think of something like that comes up come the position will be that the banks go? >> i think boehner in the leadership will have a decision to make and he's not going to want there to be a depression on his watch, particularly if there's a republican administration. romney supported t.a.r.p. and he supported it rather rapidly. i mention in that story than your times magazine about governor romney headed to decimate the financial crisis, when the bank meltdown was upon us and john mccain decided to suspend his campaign committee's decision came as a result of a meeting he had with economic history team. a lot of these are big corporate donors and mitt romney was among them. all of those guys basically said take it. the small town looks bad or
one of them is now retiring, steve latourette, the moderate tuesday cloud is retiring in large part because it is discussed at the tea party. this is a guy who would have thought of ways was the forerunner, but who mellowed over time. another way of looking is even the class of 1994 was nowhere as near conservative. >> dear liberals i compare sin. you think of something like that comes up come the position will be that the banks go? >> i think boehner in the leadership will have a...
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Dec 26, 2012
12/12
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special dev dend so that steve wyn saved 21 million and larry elison third richardson accel brated difdepped payments that -- dividend payments that saved him money . what it means for growth down the line. corporations will retain earnings rather than distribute them and companies of tomorrow will not get the funds they need to jim walton of walmart four million from dividends. they are top guys pulling the money out. when you look at investment dollars. we have seen so much fluxation in the stock market. stuart varney said it was an effort to cash out some of the money because they don't know what is happening next year. it proves the basic point. you raise taxes you are not raising revenues. most people will respond to thes . they are not sure and look at walmart. it is the walton family that is the richest family in the united states. they initially planned dividend pay out for january 2nd . uncertainty about the fiscal cliff. they are moving up it is yet another example of how we get around this. i would point out when companies are not paying out the dividends, it means we get waste we
special dev dend so that steve wyn saved 21 million and larry elison third richardson accel brated difdepped payments that -- dividend payments that saved him money . what it means for growth down the line. corporations will retain earnings rather than distribute them and companies of tomorrow will not get the funds they need to jim walton of walmart four million from dividends. they are top guys pulling the money out. when you look at investment dollars. we have seen so much fluxation in the...
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Jan 1, 2013
01/13
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good morning, steve. caller: happy new year. everybody is talking about going back to the clinton's tax brackets. do you think that is a good idea? guest: go back to the 1990's and everybody did quite well. there was apocalyptic talk. it is not all that much debilitating when people tend to save the money rather than spend it. a lot of the talk about what will happen if we go back to those rates simply is not true. we saw quite a bit of economic growth. host: john from north carolina tweets in -- guest: that will be what a lot of people are going to sweat to. they are getting no spending cuts. that is a hard sell for a lot of people. they rejected a bill and told boehner that would not support a bill that pushed the tax rates up to a million dollars. that is a win in some ways for them. host: what do you make about the statement that said the house will honor its commitment to consider the senate agreement if it is passed. host: this is a joint statement. guest: the republican bishop wants this to pass. it would be problematic i
good morning, steve. caller: happy new year. everybody is talking about going back to the clinton's tax brackets. do you think that is a good idea? guest: go back to the 1990's and everybody did quite well. there was apocalyptic talk. it is not all that much debilitating when people tend to save the money rather than spend it. a lot of the talk about what will happen if we go back to those rates simply is not true. we saw quite a bit of economic growth. host: john from north carolina tweets in...
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Dec 28, 2012
12/12
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caller: good morning, steve. i listened to it the myopic dogma in this segment over and over. the only people i can blame on this are the american people. the people who sit here and listen to these guys that are extremists and and they vote him into office -- them into office. i hear people say let's get rid of epa. if you look at how much epa takes out of our budget, that's like worrying about nothing gary people need to turn off the tv and start studying more. crack some books. look at economic spirit trickle-down economics does not work. name a country where it has worked? maybe estonia. but it's not working in greece. i heard a great saying that says when time gets tough, everyone is a keynesian. turn off the tv. not c-span of course. but turn off the news channels that are just cramming this stuff, and get involved in this before you formulate an opinion. i think we would be voted into office smarter, better people that are not tea party extremists. how about if on the democratic side grover norquist had said never cut any spending? i'm going to sign a bill that says nev
caller: good morning, steve. i listened to it the myopic dogma in this segment over and over. the only people i can blame on this are the american people. the people who sit here and listen to these guys that are extremists and and they vote him into office -- them into office. i hear people say let's get rid of epa. if you look at how much epa takes out of our budget, that's like worrying about nothing gary people need to turn off the tv and start studying more. crack some books. look at...